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Is ON Semiconductor (ON) Outperforming Other Computer and Technology Stocks This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has ON Semiconductor (ON) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

ON Semiconductor is one of 613 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ON is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ON's full-year earnings has moved 21.53% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, ON has gained about 6.93% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 29.11% on a year-to-date basis. This means that ON Semiconductor is outperforming the sector as a whole this year.

Breaking things down more, ON is a member of the Semiconductor - Analog and Mixed industry, which includes 12 individual companies and currently sits at #122 in the Zacks Industry Rank. Stocks in this group have gained about 14.09% so far this year, so ON is slightly underperforming its industry this group in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track ON. The stock will be looking to continue its solid performance.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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